A good for which demand decreases when income decreases is known as a(n) ________ good
A) normal B) inferior C) complementary D) substitute
A
Economics
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The total revenue is the
a. (change in price) × (change in output) b. (price) × (change in output) c. (change in price) × (output) d. (price) × (output) e. (change in marginal revenue) × (price)
Economics
If an economy's MPC is 0.95 and the MPM is 0.15, then an increase in government spending of $1,000 will increase income by
A. $1,000. B. $4,500. C. $5,000. D. $8,000.
Economics